Aurobindo up 4% on Sandoz deal

Shares of Aurobindo are up 4% on the news of acquisition of the Sandoz’s generic portfolio in the US from Novartis. Aurobindo announced today that it has acquired Sandoz’s generic and dermatology portfolio in the US from Novartis. As per the deal, Aurobindo also gets three manufacturing facilities and products under development. The deal is expected to be margin and EPS accretive from the first year of full operations. Aurobindo has said that this acquisition provides a unique opportunity to acquire a premier US generics business with a sizable and broad portfolio across key therapeutic areas.

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